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US unemployment rate reaches 7.6%

Maximus Zeebra

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BBC NEWS | Business | US unemployment rate reaches 7.6%

Wow, this is very concerning for the US. Horrible numbers. US unemployment is now higher than EU-27 and passing the Eurozone next month. Considering European unemployment has been hovering about 7% for quite awhile, and US unemployment was only 4% a year ago, the numbers are dramatic.

I actually predicted this to happen several years ago, but then people called me dumb and what not. If you do not believe me, check out my first posts on this forum and my warnings about a worse economy for the US and the UK the coming years, but a relative stable European economy.
 
More anti-US trolling.
:yawn:
 
More anti-US trolling.
:yawn:

No.. Its the REALITY!!!!!!!!!!!!!!! If you cant see that, then you shouldnt be on this forum and not allowed to use the term anti-American, when you use it on people who describe the reality.

The truth is like this..

You are blindly pro-US..
The reality to you is anti-US.
What is the people who actually are anti-US then, terrorists?
 
blah blah blah.
:roll:
Keep telling us how much the US sucks and hoe great Europe is.
I know you want to.

I am just telling you the reality, if you cant handle that, then shame on you.. And please refrain from commenting if you are so blind that you call the reality anti-American..
 
BBC NEWS | Business | US unemployment rate reaches 7.6%

Wow, this is very concerning for the US. Horrible numbers. US unemployment is now higher than EU-27 and passing the Eurozone next month. Considering European unemployment has been hovering about 7% for quite awhile, and US unemployment was only 4% a year ago, the numbers are dramatic.

I actually predicted this to happen several years ago, but then people called me dumb and what not. If you do not believe me, check out my first posts on this forum and my warnings about a worse economy for the US and the UK the coming years, but a relative stable European economy.

I wouldn't be so smug in your assessment of the UK economy. The US is gonna suffer pretty badly here for a bit, but we are the precursor to Europe. We're all intertwined with our economies. Europe and the US are dependent upon each other and a huge market failure in one will induce large market failures in the other. The UK banking system in fact had already started to feel affects of the US collapse.

As for our unemployment, I'm not going to be surprised to see it breach 10%. Which is another reason why you're all gonna feel the pinch too. US consumerism was driving global economies. You relied on us to buy crap, but we're not going to be buying crap right now; not for awhile. All markets, including the EU, are going to go through a bit of a rough period. Nothing to the extend of the Great Depression, but still it's not gonna be the best times ever.
 
I am just telling you the reality, if you cant handle that, then shame on you.. And please refrain from commenting if you are so blind that you call the reality anti-American..
Sing it with me!!!
US Sucks!
EU Rocks!
US Sucks!
EU Rocks
 
I wouldn't be so smug in your assessment of the UK economy. The US is gonna suffer pretty badly here for a bit, but we are the precursor to Europe.
The US sneezes, the rest of the world gets pneumonia.
Everyone knows this.
Even those pro-EU anti-US bigots that won't admit it.
 
Goobieman has it right. You're simply trolling. That what you post may be factual is irrelevant to whether you are trolling or not.

Your post above simply pats yourself on the back for predicting something and, again, slamming the US relative to Europe.

I have to wonder, though, why do you project that the US unemployment rate will pass EU27 or Eurozone next month?

Eurostat shows the EU27 at 7.4% as of 01/2009 up from 6.8% in 01/2009. The EU15 was pegged at 8.0% as of 01/2009 up from 7.2% in 01/2009. And nothing they are reporting suggests that those rates will be falling and economic conditions appear to be worsening.

Hence, given that there is no reason to conclude that the US rate will exceed the EU27 or EU15, well, it seems you're just, again, slamming the US as opposed to taking a legitimate look at unemployment rates, the unemployment situation within the EU, or anything else.
 
The latest unemployment data isn't breaking news? This doesn't seem like trolling to me at all.
 
The latest unemployment data isn't breaking news? This doesn't seem like trolling to me at all.
The statement of the US unemployment rate is not trolling.

Its also not news to anyone that's paid attention to the news for the last year. Everyone knew there was a slowdown coming, and everyone knows when that happens, the unemployment rate goes up.

What a surprise. :roll:

The rest of the post? Trolling.

Sing it with me!!!
US Sucks!
EU Rocks!
US Sucks!
EU Rocks
 
Its also interesting that it takes a recession like this to drop the US unemployment rate to that which is normal for Europe.
 
Take a look at the U6 unemployment statistics, which is more accurate because it includes those who have run out of unemployment benefits, but still don't have a job.
 
I wouldn't be so smug in your assessment of the UK economy. The US is gonna suffer pretty badly here for a bit, but we are the precursor to Europe. We're all intertwined with our economies. Europe and the US are dependent upon each other and a huge market failure in one will induce large market failures in the other. The UK banking system in fact had already started to feel affects of the US collapse.

Unrealistic assessment.. The UK economy is imploding and much worse of than the US. Europe's recession is due to the depression in the US and some irresponsible banking. But not due to irresponsible banking, irresponsible financial gambling, irresponsible governance and so on, at the same level as the US and especially the UK.. In the long term, the US can carry the burden they have put on themselves, most likely, while the UK cannot.
My prediction for the UK economy is that Poland have caught up to them within 5 years as a bigger economy. The UK is a symbol of what we did wrong in the 20th century.

As for our unemployment, I'm not going to be surprised to see it breach 10%. Which is another reason why you're all gonna feel the pinch too. US consumerism was driving global economies. You relied on us to buy crap, but we're not going to be buying crap right now; not for awhile. All markets, including the EU, are going to go through a bit of a rough period. Nothing to the extend of the Great Depression, but still it's not gonna be the best times ever.

Crap is what China produces, Europe produce high quality stuff that will always be in demand. But yes, the downturn has affected us, and other economies collapses is the main reason we are seeing a setback. Industrial new orders in Europe is already down to 2003 levels, and within a year will be at the same level as they were in 2001, if the situation do not turn around.
Spain and the UK is by far worst hit, followed by Ireland. Best of are less speculative, more stable and solid economies like France who arent even in recession officially yet.
Germany is faring pretty well considering its an export driven economy. Their unemployment rate at 7.1% up from 7.0% a month ago is still 0.9% lower than it was 1 year ago, but the economy will shrink in 2009.
Ireland is a small economy which will recover, Spain will recover when all the rest recover, because its dependent on good times elsewhere, but the UK is unlikely to recover any time soon, if they do not start paying down their external 10 trillion $ debt, which is just 2 trillion behind the US. Its not a comfort either than average savings in the UK is 1% of GDP, while its above 12% on average in Europe. So they have nothing to spend to make things better, and with credit drying in, implosion is inevitable, especially considering cheap unrealistic credit times are over.. Which the UK is also a master at, private credit card and home loans which are the highest in Europe, making housing prices in the UK unrealistic compared to quality.

As I see it, the economic setback, is actually nothing but economic corrections on a global scale. In any such scenario, the UK is actually a very poor economy.
 
Unrealistic assessment.. The UK economy is imploding and much worse of than the US. Europe's recession is due to the depression in the US....
Wait? What did someone say? Oh yeah....

The US sneezes, the rest of the world gets pneumonia.

US Sucks!
EU Rocks!
US Sucks!
EU Rocks
 
The statement of the US unemployment rate is not trolling.

Its also not news to anyone that's paid attention to the news for the last year. Everyone knew there was a slowdown coming, and everyone knows when that happens, the unemployment rate goes up.

What a surprise. :roll:

The rest of the post? Trolling.

Sing it with me!!!
US Sucks!
EU Rocks!
US Sucks!
EU Rocks

No, I am just reporting on the news.. An analyzes compared with Europe which is a similar economy should be interesting to you people, at least the people who can handle reality, and doesnt call it anti American.

You are a perfect example of why people call me anti-American.. I never said the EU rocks..
Then again, I never complain when people like you go around saying stupid stuff about everyone else and good stuff about America.. I never call that anti-world or whatever.
 
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No, I am just reporting on the news..
If that were the case, your OP would have ended with the link to the story.

US Sucks!
EU Rocks!
US Sucks!
EU Rocks
 
If that were the case, your OP would have ended with the link to the story.

US Sucks!
EU Rocks!
US Sucks!
EU Rocks

I did link in the OP.. Your blind US bias just blinds you on this issue.. No wonder no one reports bad news about the US anymore, just get unrealistic criticism from people like you.
 
I did link in the OP.
Please -- at least TRY to read what I said.

If you were "just reporting the news" your OP would have ended with the link to the story. That you contined on with your blather -after- posting the link to the story indicates quite clearly that you were NOT "just reporting the news".

Now, continue to tell us how badly the US sucks and how much better the EU is -- we KNOW you want to.
 
Moderator's Warning:
Stop the derailments. Either debate civily or be removed.
 
Please -- at least TRY to read what I said.

If you were "just reporting the news" your OP would have ended with the link to the story. That you contined on with your blather -after- posting the link to the story indicates quite clearly that you were NOT "just reporting the news".

Now, continue to tell us how badly the US sucks and how much better the EU is -- we KNOW you want to.

No, it was just an analyzed of the situation, because such is interesting!!! Hello!!!

Perhaps you should start analyzing instead of just screaming anti-American every time reality hits you..
 
Oops, sorry about that.

US Department of Labor

While more accurate than U3, is still not the most accurate number, which is probably somewhere between U3 and U6.

I think the unemployment rate is a good indication that times are really bad right now, more so than GDP numbers. After all, jobs are more important than effectiveness.

I think the tendency is horrific, actually dreadful to think of.
I blame the last administration for parts of this, they could have prevented the dramatic decline, and not wasted money on useless things and further put the US into debt like they did.


Those numbers are interesting nonetheless. They tell me that "temporary workers" are the ones getting shed first and that the short term trend is not as dramatic as the long term trend. If the US economy recovers very soon, then the most permanent and stable jobs or core jobs at least havent been lost, thats a good thing.
 
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